Arch Therapeutics Inc (ARTH) Raised to “Hold” at Zacks Investment Research
Arch Therapeutics Inc (NASDAQ:ARTH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Arch Therapeutics, Inc. is a medical device company. It develops products that make surgery and interventional care faster and safer by using an approach to stop bleeding, control leaking, and provide other advantages during surgery and trauma care. The Company’s lead product candidate includes AC5 (TM), a biocompatible synthetic peptide, to achieve hemostasis in minimally invasive and open surgical procedures. Arch Therapeutics, Inc. is headquartered in Wellesley, Massachusetts. “
Several other analysts also recently issued reports on the company. Roth Capital set a $3.00 price target on Arch Therapeutics and gave the stock a “buy” rating in a report on Thursday, May 4th. ValuEngine downgraded Arch Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Ifs Securities reissued an “outperform” rating on shares of Arch Therapeutics in a report on Tuesday, July 25th. Finally, HC Wainwright set a $3.00 price target on Arch Therapeutics and gave the stock a “buy” rating in a report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $2.31.
Arch Therapeutics (ARTH) remained flat at $0.69 on Monday. 314,114 shares of the company traded hands. Arch Therapeutics has a 1-year low of $0.41 and a 1-year high of $0.80. The firm has a 50-day moving average of $0.64 and a 200 day moving average of $0.59. The stock’s market cap is $101.44 million.
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About Arch Therapeutics
Arch Therapeutics, Inc is a development-stage company. The Company operates as a biotechnology company. The Company focuses on developing products to stop bleeding (hemostasis) and control leaking (sealant) during surgery and trauma care. The Company’s technology is based on a self-assembling peptide that creates a physical, mechanical barrier, which could be applied to seal organs or wounds that are leaking blood and other fluids.
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